Here’s something about Januarys—especially when they aren’t cold—that puts a chill in the oil and gas A&D market.

By spring, however, M&A in the U.S. had regained its footing with a sizzling $33 billion second-quarter from more than 40 deals—seven worth at least $1 billion, according to Enverus.

Andrew Dittmar, senior M&A analyst at Enverus, said that investor pressure to operate leaner made consolidation a priority.

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